 Strategic Analysis | November 2007 The U.S. Economy: Is There a Way Out of the Woods?
In their latest Strategic Analysis, Distinguished Scholar Wynne Godley, President Dimitri B. Papadimitriou, and Research Scholars Greg Hannsgen and Gennaro Zezza review recent events in the housing and financial markets to obtain a likely scenario for the evolution of household spending in the United States. They forecast a significant drop in borrowing and private expenditure in the coming quarters, with severe consequences for growth and unemployment, unless (1) the U.S. dollar is allowed to continue its fall and thus complete the recovery in the U.S. external imbalance, and (2) fiscal policy shifts its course—as it did in the 2001 recession.
Publication(s):
View all associated program(s) publications:
The State of the U.S. and World Economies
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Author(s):
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| Wynne Godley |
| Dimitri B. Papadimitriou |
| Greg Hannsgen |
| Gennaro Zezza |
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After the Crisis: Planning A New Financial Structure
